KATHMANDU: NIC Asia Bank has received approval from Securities Board of Nepal to issue ‘NIC Asia Debenture 2024-25’ worth Rs three billion.

NIC Asia has also appointed Nabil Investment as the issue manager to issue the debenture.

The bank will issue three million units of debenture and the cost of a unit has been fixed at Rs 1,000. The bank will collect 80 per cent of the total amount through private placement and 20 per cent from public investors through public offering.

The bank will provide nine per cent annual interest rate on the debenture. The debenture will be listed on the Nepal Stock Exchange.